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1=}Real Estate
Eileen M. Day realtor
THE ESCAPE CLAUSE
Often buyers will make their offer to purchase subject to certain contingencies. Normally these are not major problems — such as: contingent upon an engineering inspection which can take place within a few days or a stipulation that financing can be obtained which is understandable. The one to think about is the sale contingent upon the buyer selling his present property.
Some buyers will outright reject such a contingency because they would now have two houses to , worry about selling rather than one.
If you do accept such a contingent offer, it would probably be wise to have your attorney insert an escape clause. This provision allows you to continue showing your home. If you receive another offer that you want to accept, you notify the first buyer that they must remove their contingency or withdraw. Either they agree to buy your home by the specified date come what may, or else they must void vhe contract and drop out of the picture, allowing you to sell to your new purchaser.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA 22747. Phone: 675-3400. We’re here to help.
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